The Board announced that Mr. Huang Wenhua ("Mr. Huang") has been appointed as an independent non-executive Director with effect from 5 December 2022. The biographical details of Mr. Huang are as follows: Mr. Huang, aged 45, obtained a master's degree in management from Sun Yat-sen University () in 2005. Mr. Huang is an experienced management consultant.

He has extensive experience in corporate strategic management, organizational operation management, marketing management and human resource management. He has provided management consulting services to dozens of companies. To the best knowledge of the Board and save as disclosed above, as at the date of this announcement, Mr. Huang (i) does not have any relationship with any Director, senior management, substantial Shareholder or controlling Shareholder of the Company; (ii) did not hold any directorship in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; (iii) does not have any interests in the shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance; (iv) does not hold any other positions with the Company or other members of the Group; and (v) does not have other major appointment or professional qualification.

Ms. Huang has entered into a letter of appointment with the Company for an initial term of one year commencing on 5 December 2022, which shall continue thereafter subject to retirement by rotation and re-election at the annual general meeting of the Company pursuant to the Bye-laws, unless and until terminated by either Mr. Huang or the Company giving to the other party not less than one month's notice in writing. Mr. Huang shall hold office until the next following annual general meeting of the Company and be eligible for re-election in accordance with the Bye-laws. According to the letter of appointment, an annual director's fee of HKD 150,000 will be payable to Mr. Huang and is subject to review by the Board and the Remuneration Committee from time to time.

The remuneration was determined by the Board with reference to his duties and responsibilities as well as his qualifications, experience and the prevailing market conditions. Mr. Huang confirmed that he has met the independence criteria as set out in Rule 3.13 of the Listing Rules. Upon Mr. Lam's resignation as an independent non-executive Director with effect from 5 December 2022, he ceased to be a member of each of the Remuneration Committee, nomination committee of the Board (the "Nomination Committee") and the audit committee of the Board (the "Audit Committee"), and, with effect from 5 December 2022, Mr. Huang has been appointed as a member of each of the Remuneration Committee, Nomination Committee and the Audit Committee.